►
From YouTube: Cardano Monthly Update - December 2020
Description
Welcome to the latest edition of our monthly show, where we bring you all the freshest news on Cardano development and all the latest news from the ecosystem. Join your hosts Tim Harrison & Aparna Jue to hear updates from across the world of Cardano!
1:32 IOHK delegation strategy with Colin Edwards, Ben O’Hanlon, and Francisco Landino
2:58 Developing the opportunity for stake pool operators with the k parameter changes.
5:13 Inviting stake pools to apply for delegation
5:48 Delegating to pools with a purpose
9:26 Rolling out Goguen with Vukasin Vukoje and Aparna Jue
13:01 We put emphasis on designing for our actual user.
15:27 Launching the pre-production environment for Goguen.
19:50 Unpacking smart contracts on Cardano.
22:30 Who are the users we are attracting to the Cardano ecosystem?
27:01 Tim Harrison and Aparna Jue hear more about KEVM/IELE with Runtime Verification’s Grigore Rosu and Everett Hildenbrandt
31:27 Where do you see smart contracts going?
35:37 How does the K framework fit into Cardano?
38:47 Where do you see K and IELE evolving to?
43:48 What excites you about working with Cardano in the future?
48:22 Aparna Jue and Francois-Rene Ridaeu demonstrate the advantages of the GLOW language
52:18 Solving low level attacks.
54:30 Demonstration of the code.
1:04:00 Tim Harrison and Jeremy Firster talk collaboration with the Cardano Foundation
1:04:15 How do you showcase the USPs of Cardano for potential use cases?
1:05:20 Discussion of the collab with Scantrust.
Kevin Hammond and Tim Harrison talk about the upcoming HFC event ant token locking
1:15:25 Token locking and the new HFC event with Kevin Hammond
1:19:08 What is token locking?
1:21:37 How does token locking influence Project Catalyst?
1:23:31 Looking forward to the next HFC event.
Learn more about IOG’s delegation strategy: https://iohk.io/en/blog/posts/2020/11/24/delegating-with-fresh-purpose/
More on K parameter change on 6th of December: https://iohk.io/en/blog/posts/2020/11/05/parameters-and-decentralization-the-way-ahead/
Express your interest in joining our devnet program here: https://input-output.typeform.com/c/OJsf0XcD
Please fill out this form if you would like to be notified of product updates or to be part of product previews: https://input-output.typeform.com/to/St2iKqMj
Or drop us a line at devrelations@iohk.io
Check out our updated developers site: http://developers.cardano.org/
For more on Runtime Verification visit: https://runtimeverification.com/
If you are interested in learning more about MUKN and Glow visit https://mukn.io/
Read about the collaboration between the Cardano Foundation and Scantrust: https://forum.cardano.org/t/cardano-foundation-develops-metadata-connector-for-scantrust-supply-chain-tracking/42741
Read our latest blog on token locking: https://iohk.io/en/blog/posts/2020/12/02/goguen-brings-token-locking-to-cardano/
Register for our Holiday show on 17 December: https://www.crowdcast.io/e/december-cardano
A
So
hello
and
welcome
to
another
monthly
show
now
technically,
I
suppose
this
is
the
november
show,
but
because
of
thanksgiving
last
week,
we're
running
it
in
december
and
we're
actually
recording
this
at
the
very
beginning
of
the
month,
so
you're
going
to
get
all
the
latest
freshest
updates
of
what's
happening
on
the
cardano
project
now.
Actually,
this
is
the
first
of
three
times
that
you're
going
to
see
us
this
month.
A
Also
on
the
17th
of
december
towards
the
end
of
the
month,
that'll
be
our
last
show
of
the
month
and
we'll
have
some
more
updates
and
news
for
you
on
that
show
as
well
and
on
the
10th,
we'll
also
be
running
something
a
little
bit
special,
something
a
bit
more
reflective
a
retrospective
of
how
far
we've
come
in
this
past
year.
So
this
isn't.
The
monster
show
you're
used
to,
but
there's
still
a
lot
of
content
to
share
tonight.
So
with
no
further
ado,
let's
crack
straight
on
aparna.
How
are
you.
B
Doing
great
tim
enjoyed
a
couple
of
days
off
last
week
for
the
us
thanksgiving
so
for
those
viewers
that
are
watching
us
from
the
us.
I
hope
you
guys
had
a
great
thanksgiving
enjoyed
some
downtime
with
the
family
lots
to
be
thankful
for
here
at
cardano
and
io,
especially
a
lot
of
progress
in
a
lot
of
different
areas
and
that's
what
we're
going
to
cover.
One
of
three
shows
that
we're
going
to
cover
a
lot
on
gogan
and
some
partner
news
as
well.
So,
let's,
let's
get
started.
A
Yeah,
we're
also
going
to
have
some
exciting
news
on
some
new
devnets
that
we're
going
to
be
launching
as
well,
but
more
of
that
later
in
the
show,
perhaps
we'll
start
off
with
the
subject
of
delegation
now
we
announced
recently
a
change
to
our
delegation
strategy.
I
caught
up
with
a
few
other
teams.
So
let's
go
to
that
clip
now.
A
So
at
the
end
of
last
month,
we
introduced
a
new
delegation
strategy
for
iog
and
our
commitment
to
move
from
public
pools
into
a
mix
of
private
pools
and
also
delegating
back
into
the
community.
So
joining
me
now
are
ben
lando
and
also
colin,
who
have
been
integral
to
developing
that
strategy
and
also
will
be
helping
as
we
roll
it
out
over
the
months
ahead.
So
perhaps
we
can
start
calling
with
you,
and
perhaps
you
can
just
give
us
a
little
bit
more
background
and
some
of
the
motivations
behind
the
creation
of
these
programs.
A
C
This
was
the
right
time
to
embark
on
a
program
to
encourage
the
largest
number
of
truly
independent
stake,
pool
operators,
and
so
the
first
part
of
our
delegation
program
will
be
looking
to
go
out
and
engage
and
support
operators
that
we
think
are
supporting
those
values.
And
one
of
those
is,
we
think,
pools
with
a
high
amount
of
pledge
and
who
are
not
looking
to
maximize
the
leverage
are
going
to
be
an
important
aspect
of
the
initial
choice
of
selections,
and
we
also
recognize
that
there
are
pools
that
come
from
economies
where
you
know.
C
A
This
is
another
part
of
the
kind
of
the
the
evolution
I
suppose
of
the
the
relationship.
If
you
like,
with
the
state
pool
operator
community
ben,
you
came
on
board
a
couple
of
months
ago
now,
with
a
sort
of
specific
brief
to
try
and
improve
the
feedback
loop,
and
this,
I
guess,
is
part
of
that
kind
of
evolution,
but
perhaps
you
can
just
frame
a
little
bit
more
and
around
some
of
the
other
activities
that
you've
been
doing
and
how
this
fits
in
yeah.
That's
that's!
Right,
tim.
A
When
I
joined,
we
talked
about
improving
feedback
loops
for
state
pool
operators
and
for
the
stakeholders
in
the
ek
system,
and
I've
mentioned
before
that.
What
that
looks
like
is
lowering
the
barriers
to
observation
and
orientation,
and
that
would
allow
everybody
in
the
ecosystem
to
make
better
decisions,
take
more
actions
and
we
hope
reduce
uncertainty.
A
So
a
good
example
of
that
is
that
we
recently
did
a
deadlift
survey,
which
drove
over
4
000
respondents
with
feedback
into
the
team.
It's
going
to
help
drive
the
development
and
product
decisions.
There
was
a
really
really
significant
win.
Now
it's
really
important
that
we
do
support
state
reports
and
you
know
I've
been
with
all
of
the
telegram
groups
that
I've
been
able
to
find.
A
We
want
to
make
it
easy
and
we're
going
to
invite
state
pool
staplers
to
to
apply
for
delegation
we'll
be
reviewing
that
in
january
and
I
believe
we're
going
to
be
doing
that
in
cohorts
which
at
least
every
three
months,
so
I
hope
that's
going
to
be
an
easy,
simple
experience
and
open
to
feedback.
If
anybody
has
it
as
they
as
they
go
down
that
boot,
so
lander,
that's
the
the
10th
of
december
that
we're
going
to
be
opening
up
this
up
this
opportunity
up.
I
guess
the
state
pool
operated
community.
A
D
In
that
form,
we
will
be
looking
for
polls
with
a
purpose
pulse
with
a
mission
or
a
goal
to
help
or
to
improve
the
world
we
are
all
living
on,
as
iog
is
not
only
delivering
and
working
on
cardano,
it's
also
a
company
with
a
mission.
We
want
to
bring
something
or
do
something
for
the
world,
so
we're
looking
for
pools
that,
for
example,
a
run
eco-friendly
that
they
they
use
eco-friendly
resources
to
run
their
pools.
D
Also,
we
will
look
for
stack,
pull
operators
that
donate
parts
of
their
rewards
to
a
charity
or
that
are
run
on
behalf
of
a
charity,
some
other
state
pool
operators
that,
for
example,
could
create
educational
content.
It
could
be
for
cardano
or
any
other
type
of
educational
content
about
technology
or
to
help
people
access
a
a
better,
a
better
labor,
for
example.
Also
we
want
to
to
help
staple
operators
that
run
in
developing
countries.
As
colin
has
said,
it
may
be
more
difficult
to
them
to
access
a
high
amount
of
pledge
to
attract
more
delegation.
D
D
Returning
to
select
the
same
stack
collaborators,
we
will
delegate
enough
time
to
to
a
staple
operators
so
that
they
can
attract
the
location
and
they
can
produce
a
block
every
time
or
every
epoch,
and
we
will
also
be
considering
and
checking
the
block
production,
because
we
also
want
staple
operators
that
are
committed
with
the
cost
and
that
they
have
a
nice
a
and
block
production,
staple
operators.
So
that's
something
we
will
be
controlling
when
we
do
the
selection
of
the
staple.
A
Operators,
okay
and
so
10th
of
december
applications
open
we'll
sort
of
close
applications
just
before
the
end
of
the
year,
we'll
review
those
so
the
first
state
pools
whether
they're,
a
purpose-driven
pool
or
an
incubator-based
pool
will
be
receiving
their
first
data
delegations,
hopefully
by
the
end
of
january.
That
kind
of
time
frame.
A
So
look
I
mean
if
you
are
an
spo,
and
you
are
watching
this
at
the
moment-
do
keep
an
eye
out
on
our
social
media
and
our
twitter
and
I'm
sure
ben
will
send
that
link
out
on
the
10th,
which
of
course
is
ada
lovelace's
birthday.
If
you
haven't
picked
up
on
that
already,
so
keep
an
eye
out
for
that,
then
thanks
very
much
everybody
for
joining.
B
A
Yeah,
I
think
so,
and
I
think
we
mentioned
one
date
there,
which
of
course
is
the
10th
of
december,
which
is
when
those
call
for
applications
will
go
out.
But
it's
also
important
to
note
there's
another
date
coming
up
very
soon
on
the
sixth,
in
fact,
which
is
when
the
parameter
changes,
the
k
parameter
changes
from
150
to
500.
A
Now
that's
important
for
the
stake
pool
operator
community
because
it
basically
broadens
the
chance
of
creating
blocks
from
smaller
pools.
So
that's
an
important
thing:
it
broadens
the
choice
for
aida
delegates
to
choose
a
pool
themselves,
but
I
think
if
you're
a
delegator
and
you're
watching
this
and
if
you're
currently
delegating
to
a
pool
which
is
more
than
30
saturated,
you
need
to
find
yourself
a
new
pool
because
you
are
not
currently
getting
your
optimum
rewards.
So
that's
an
important
message
also
just
to
get
out
to
everybody
today.
So,
let's,
let's
move
on.
B
Okay,
so
welcoming
book
back
to
the
show,
we're
here
today
to
talk
about
the
gogan
program
and
some
of
the
immediate
deliverables
that
are
happening,
which
is
actually
very
exciting,
because
we
we
have
made
a
lot
of
progress
in
terms
of
the
program.
So
we
talked
about
how
the
program
starts
with
metadata
and
then
moves
into
the
native
tokens
aspect,
which
has
actually
two
areas
strategically
for
us.
B
One
happens
to
be
native
and
then
the
second
is
the
erc20
conversion
project
and
then
how
plutus
and
marlowe
played
and
then
we've
also
got
something
else,
we're
working
on
with
interoperability,
which
will
which
we'll
talk
about
in
this
segment.
So
look
just
starting
with
the
basics.
We
put
a
few
slides
together
with
our
product,
marketer
maki
and
to
explain
to
the
community
and
to
to
our
audience
really
what
native
tokens
are,
what
they
can
do,
some
of
the
differences
between
erc20
and
native
tokens,
and
this
particular
slide.
B
It
might
seem
very,
very
basic,
but
in
reality,
because
the
industry
has
so
many
different
terms
for
almost
the
same
thing.
In
order
not
to
create
confusion,
product
marketing
we've
decided
to
make
a
glossary.
That
way.
Our
internal
team
knows
our
developers
know
the
community
will
know
what
we're
calling
different
things
so,
but
explain
to
us
some
of
the
key
structures
within
the
native
tokens
environment.
E
E
Now
the
the
concept
that
is
different
from
denver
blockchains
is
the
token
bundle
we
had
to
create
this
concept
in
order
for
us
to
be
able
to
allow
users
to
transact
multiple
tokens
in
one
transaction.
So
when
you're,
sending
a
transaction
with
a
token
bundle,
you're
sending
multiple
tokens
at
once
and
of
course,
the
native
means
that
it's
on
the
ledger
layer,
which
is
very
different
from
100
blockchains,
where
it's
on
the
smart
contracts.
There.
B
We
I'm
not
going
to
touch
upon
this
a
lot
we
actually
spoke
about
this.
The
last
show
about
some
of
the
examples
of
tokens
and
what
partners
want
to
do
with
them.
You
know
with
loyalty
points
or
whether
people
have
shares
and
companies
or
music
rights,
things
of
that
nature.
So
we
broke
that
down
a
bit
as
well
into
like
security,
asset
types,
stable
coins
and
non-fungibles.
B
This
doesn't
mean
that
this
is
this
is
all
we're
doing.
The
platform
is,
is
a
really
it's
really
broad
and,
as
we
come
out
with
our
pre-production
environments,
which
will
help
us
develop
the
applications
and
types
of
tokens
people
would
like
to
create,
we
will
solidify
the
examples
of
these
types
of
tokens
that
are
being
created
on
cardano
and
then
one
of
the
other
things
that
we
like
to
do
and,
if
you're
a
regular
viewer
of
a
show,
you,
you
would
have
heard
me
say
this,
but
designing
for
our
actual
user.
B
B
That's
great
all
right,
so
there
was
a
lot
of
buzz
in
the
community
when
we
had
mentioned
how
native
tokens,
one
of
the
value
propositions
of
this
being
on
cardano
is,
we
would
treat
it
very
similar
to
how
we
treat
our
principal
currency
ada.
So
you
can
see
we
did
a
quick
chart
just
to
run
through
some
of
these.
So.
E
Some
of
those
are
obvious,
like
the
first
four,
but
the
ones
that
we
should
focus
on
are
the
fact
that,
of
course,
native
tokens
can
be
minted
while
adapt
not
and
the
fact
that
you
can
pay
for
fees
only
in
ada,
obviously
because
of
security
reasons.
So
from
the
ledger
side,
and
that
ada
is
the
only
currency
that
can
be
part
of
the
minimum
cover
for
the
utxo
value.
Also
for
security
reasons,.
B
So
thanks
book
that
actually
was
a
pretty
good
high
level
comparison
between
what
native
tokens
and
differences
are
from
ada.
However,
it's
still
a
major
value
proposition
that
we
do
treat
all
native
tokens
similar
to
to
ada
on
the
chain.
We
are
actually
coming
out
with
the
pre-production
environment,
like
promised
on
the
last
show,
and
to
reiterate
to
the
community
what
a
pre-production
environment
is
it's
not
necessarily
as
early
stage
as
a
test
net.
This
is
code
that
we
have
tested.
B
We
have
tested
within
our
own
internal
teams
and
we're
putting
it
in
a
pre-production
environment,
so
that
developers
and
partners
and
those
user
personas
that
you
saw
on
a
previous
slide
can
actually
can
come
in
and
work
with
the
features,
as
opposed
to
worrying
about
testing
certain
levels
of
the
code.
So
this
is
more
of
a
uat
and
more
of
a
way
for
us
to
learn
what
sort
of
tokens
and
what
sort
of
properties
that
people
would
like
going
forward
in
the
main
product.
So
look
just
based
on
that.
What
can
users
do?
E
E
Now.
The
thing
is
that
this
is
ver:
it's
not
very
user
friendly,
because
it's
a
cli.
So
what
we
did
is
we
actually
decided
to
put
it
in
the
erc20
converter
and
make
a
more
general
tool
that
allows
you
to
manage
tokens
so
you'll
be
able
to
go
to
one
part
of
the
erc20
converter
and
create
a
token
set
the
name
for
the
token,
how
many
tokens
you
want
to
mint
how
many
decibels
you
want
to
have
and
select
the
monetary
policy
and
just
send
the
token
to
a
particular
address.
E
B
E
B
Perfect,
okay,
so
audience
you've
kind
of
seen
the
nte
pre-prod.
So
that's
the
native
tokens
piece
of
the
of
the
strategy.
The
second
piece
is
around
interoperability,
so
being
able
to
bring
in
coins
from
other
chains
and
in
the
in
this
case
the
rc20
converter
that
we
introduced
in
the
last
project.
So
I'm
not
going
to
go
through
this
right
now,
because
this
particular
feature
comparison.
We
showed
you
the
last
time,
so
we
won't
detail
everything
out
you
should
you
already
have
that
recording
and
this
visual.
E
So
from
the
product
lifecycle
perspective,
we
are
looking
at
the
feedback
that
we're
getting
from
customers
and
we
are
realizing
that
many
of
the
customers
just
want
to
make
a
new
token
on
cardano.
It's
not
just
about
converting
existing
tokens,
so
we
are
seeing
more
and
more
people
with
those
requirements.
So
this
is
the
reason
why,
in
general,
we
thought
more
about
the
converter
and
thought.
Okay,
we
are
not
just
building
a
erc20
converter,
which
is
just
bringing
tokens
from
the
ethereum
network.
E
So
this
is
just
a
small
prototype
of
the
token
builder
it
showcases
how
the
token
creation
process
is
going
to
look
like,
and
it's
going
to
be
part
of
the
rc20
converter.
So
it's
enough
for
me
to
go
to
create
token.
I
define
the
name
of
the
token,
for
example,
irg
token
and
the
symbol
of
the
token
iog
the
amount
of
tokens
that
I
want
to
mint.
E
For
example,
a
thousand
and
the
decimals
that
I
wanna
have
in
this
particular
case.
I
have
a
monetary
policy
that
is
predefined,
but
I
can
basically
set
up
any
monetary
policy
that
I
want
now.
I
cannot
create
a
token
because
the
network
is
not
live
but
basically,
but
by
just
clicking
on
create
token
you'll,
be
able
to
create
a
token
as
easy.
B
All
right,
so,
hopefully
you
guys
enjoyed
that
on
the
token
builder,
there's
some
exciting
user
experiences
updates
for
native
tokens
on
that,
and
even
with
the
erc20
converter,
you
know,
like
we
said
with
book
on
the
job,
we're
really
looking
at
the
user
experience
on
tokens.
But
then
interoperability
doesn't
just
have
to
be
tokens.
B
So
what
does
that
mean?
Well
that
actually
means
that
we're
looking
to
figure
out
how
we
can
bridge
their
languages
and
what
they're
doing
to
cardano
and
we're
doing
that
in
terms
of
a
devnet.
It's
like
a
developer
environment.
These
are
early
devnets,
we're
testing
out
these
concepts,
we're
recruiting
solidity
developers
from
the
field
from
the
community
that
want
to
be
a
part
of
it.
B
We've
been
doing
this
so
that
we
can
get
smart
contracting
languages
integrated
with
cardano,
so
that
people
have
options
at
the
end
of
the
day,
we
want
cardano
to
fit
developers
and
not
the
other
way
around.
So
this
slide
right
here
is
just
more
of
an
both.
These
slides
actually
are
more
of
an
informational
slide,
just
to
show
you
some
of
the
terms
that
you're
going
to
hear
the
k
semantics
term
and
what
kevm
is
and
what
we're
doing
with
solidity
on
yeli,
which
is
a
part
of
the
k-semantic
solutions
and
glow.
B
This
slide
over
here
is
once
again
informational,
but
it's
to
show
people
what
source
codes
get
compiled
to
what
so
that,
there's
no
confusion
when
we're
talking
about
the
different
terms
around
virtual
machines
and
bikers-
and
these
are
all
these
are
all.
This
is
all
great
news
that
we're
adding
and
an
angle
of
interoperability
into
the
gogan
program
and
thinking
about
developers
and
not
just
about
how
our
native
languages
are
going
to
progress.
So
I
think
it's
a
win-win
for
us
all
right
so
on
to
the
next.
B
B
What
we're
going
to
be
doing
so
there
will
be
some
type
forms:
we're
going
to
share
to
get
people
that
are
interested
to
come
in
and
play
with
us
in
these
developer
environments,
we're
going
to
continue
the
the
progress
and
the
learning
around
these
devnets
and
iterate
on
it
and
we'll
open
it
up,
even
more
so
for
anybody
who
might
who,
who
might
not
have
time
right
now
to
to
be
involved.
So
these
are
going
to
be
open.
B
It's
a
part
of
the
program,
so
you
guys
will
hear
about
this
in
our
show
going
forward.
Okay-
and
in
summary,
where
are
we
with
gogan?
So
there's
a
lot
as
you
can
tell
just
from
this
segment
and
what
we're
going
to
show
you
as
well.
There's
there's
been
a
lot
of
progress,
I'm
very
proud
of
the
team,
the
metadata
feature
being
complete.
We're
making
sure
that
explorer
has
support
on
it.
So,
the
commercial
angle,
our
commercial
teams,
can
now
work
on
real
applications.
B
Erc20
converters,
like
we
said
we're
working
with
partners
here,
we're
looking
to
productize
the
erc20
converter,
from
just
a
concept
and
and
also
to
to
an
actual
product
that
we
can
bundle
up
token,
locking
the
hard
fork
combinator
event
is
coming
up
with
token
locking,
which
will
help
us
in
the
gogen
program.
So
that's
also
check
boxed
by
the
end
of
the
year
and
the
interoperability
program
that
I
just
spoke
about,
which
is
very
exciting
news
to
bring
in
rv
and
to
bring
in
moon
and
to
have
their
languages
and
their
concepts.
B
Work
on
cardano
so
really
exciting
news
there
and
we're
we're
excited
to
launch
the
devnet
program
in
in
that
in
that
area
alpha
on
marlow
the
playground
everything's
going
great
checking
up
with
the
team
with
surety,
simon
and
mike,
and
we're
getting
a
lot
of
feedback
from
you
guys.
The
telegram
channels
have
been
very
useful
and
we're
continuing
to
work
on
all
the
integrations
of
the
different
financial
contracts
there
and
working
towards
a
mainnet
prog
program.
B
Plutus
playground
is,
is
getting
up
to
speed
as
well.
We'll
have
some
more
information
on
that.
Soon.
Book
is
actually
in
charge
of
that
as
well
and
working
towards
the
devnet.
Finally,
with
plutus,
so
we'll
have
the
native
portion
of
cardano
on
smart
contracts
ready
next
year
and
then
partnerships,
and
we
will
have
a
show
later
on
this
month,
which
is
going
to
focus
on
the
different
types
of
partnerships,
because
that's
incredibly
important
for
utility,
because
that's
what
gogan's
about
it's
it's
like,
I
said
the
utility
pillar.
A
B
B
A
So
I
think
quite
a
useful
analogy
there.
I
think
I
think
that
I've
heard
is
around
the
developer
kit.
For
example,
the
game
developers
get
sent
prior
to
the
console
being
available
in
the
living
room.
You
get
your
version
of
an
xbox,
you
get
your
version
of
a
playstation,
it's
not
a
final
production
version,
but
it's
basically
enough
to
get
cracking
and
I
guess
that's
kind
of
the
approach
we're
we're
taking
here.
A
Okay,
so
look
these.
These
devnets
are
being
developed
in
association
with
with
a
couple
of
different
partners,
one
of
whom
you'll
all
have
met
before
another
who
you
probably
won't
so
first
off.
Let's
maybe
go
to
a
clip
that
I
shot
with
the
team
at
runtime
verification
earlier
this
week
to
hear
a
little
bit
more
about
yeller
and
also
the
work
that
they're
doing
on
kvm.
A
F
G
But
we
kept
doing
formal
verification
for
people
and
and
more
recently,
we've
been
developing
products
that
we're
hoping
people
benefit
from
in
terms
of
improving
their
own
code
quality
themselves
without
having
to
consult
with
us
and
then
yeah
and
more
recently,
we're
seeing
a
lot
more
smart
contract
audit
requests
for
various
defy
applications.
So
it's
been
feels
like
it's
been
a
long
two
years
or
three
years
at
this
point,
but
I
don't
know,
I
guess
it
went
pretty
quick.
So.
B
That's
an
awesome
story.
I
mean
starting
off
in
the
automotive
space
and
the
aerospace
space
that
that's
part
of
is
my
background
as
well.
So
I'm
quite
familiar
with
the
amount
of
testing
and
rigor
that
happens
in
that
industry
and
then
bringing
that
into
blockchain.
I
think
that's
a
niche
market
and
it's
much
needed,
especially
for
for
for
where,
where
we're,
headed
and
cardano
the
project
itself
is,
is
so
heavily
reliant
on
high
quality
code
and
and
how
we're
testing
and
how
we're
verifying
that
it.
B
It
makes
perfect
sense
that
that
we're
working
together,
but
you
know
every
you
mentioned
something
about
the
smart
contract
space
a
little
bit
about
the
defy
inquiries
that
you
guys
are
getting
from
audits.
So
just
in
that
vein
from
a
market
perspective,
are
there
any
particular
trends
or
insights
that
you'd
like
to
share
with
our
audience
regarding
the
smart
contract
markets?
Where
do
you
see
it
going
and
then,
if
you
don't
mind
gregory
after
that,
I'd
love
to
hear
your
opinion
on
it
as
well.
G
Then
they
were
way
bigger
than
they
were
meant
to
be
initially.
But
more
recently,
in
the
last
few
months,
we've
seen
a
lot
more
of
these
d5
style,
smart
contracts,
where
people
are
porting
traditional
financial
instruments
over
to
blockchain.
Basically
so
you,
you
know,
you
have
the
same
kind
of
traditional
financial
instruments,
but
now
they're
running
on
blockchain
in
an
automated
fashion
and
they're,
starting
to
add
some
twists
to
it
that
maybe
didn't
show
up
in
the
traditional
financial
sector
as
well.
G
So
I
think
we're
starting
to
really
get
into
a
more
serious
kind
of
application
of
blockchain
than
we've
seen
in
the
past
couple
years
where
people
are
actually
saying
hey
we,
this
is
real.
We
can
actually
do
decentralized
finance
without
without
banks
there
to
moderate
it
and
that's
kind
of
what
we're
seeing
more
in
the
past
few
months
is
more
audit
requests
for
these
style
of
applications,
which
aren't
just
one-off,
like
crypto
kitties
trading
platforms,
whatever
they're
actually
full-blown
financial
instruments
that
that
we're
seeing
here
so.
F
But
in
order
for
that
to
happen,
the
big
liquidity
providers
must
have
trust
in
in
this
code
in
these
defined
protocols,
and
there
are
so
many
things
that
can
go
wrong
there.
It's
only
when
you
do
formal
verification
of
code
that
you
realize
how
many
things
can
go
wrong.
Many
enthusiasts
are
enthusiasts,
they
think.
Oh,
this
should
go.
Oh
that's
nice.
They
think
five
seconds
ten
seconds.
This
is
really
cool.
F
Let's
do
it
right,
but
the
reality
is
that
there
are
so
many
hidden
errors,
so
many
possible
exploits
there
that
we
saw
with
formal
verification
which
is
the
best
we
know,
is
a
community,
the
best
we've
done
in
50
years
or
so
of
research
to
avoid
even
eliminate,
sometimes
coding
errors.
Without
that,
you
will
not
attract
big
liquidity
providers
to
step
in
because
there's
a
huge
risk
to
to
lose
big.
F
So
that's
why
we
have
firm
believers
in
the
power
of
formal
verification
in
defy
and-
and
we
believe
that
in
five
years
or
so,
they're
be
notified
protocol
that
is
taken
seriously
without
being
formally
verified
rigorously
by
very
reputable
teams.
You
see
many
defy
protocols
now
these
days
are
anonymous,
why
they
are
like
sushi
swap
pancake
swap
a
pickle
right,
because
nobody
wants
to
take
responsibility
for
those
they
know
there
could
be
bugs
they
could
be
in
trouble.
F
I
don't
think
that
has
a
long-term
future.
I
think
they
need
to
be
done
by
reputable
companies
like
runtime
verification
or
maybe
cardano
or
or
many
other
companies
like
that
and
to
have
powerful
prisoning
methods
behind
to
analyze
both
the
economic
models
and
validate
important
properties
over
the
economic
models,
and
also
all
the
code
make
sure
that
there
are
no
errors
that
can
be
exploited.
A
So,
let's
we're
going
to
dig
down
a
little
bit
into
the
yellow
and
the
kvm
project
that
we're
going
to
be
working
on
with
you
specifically,
but
before
we
do
that.
Perhaps
let's
just
go
back
to
the
k
framework
and
just
hear
a
little
bit
more
about
that
kind
of
meta
that
sits
across
the
top
of
both
of
these
and
how
that
fits
in.
F
You
derive
automatically
or
semi-automatically
all
the
tools
that
you
need
for
that
language,
like
parsers
interpreters,
compilers
program,
verifiers
model,
checkers,
all
the
tools
that
we
need
for
that
language
can
be
derived
in
a
coding
by
construction
style
from
the
mathematical
definition
of
the
programming
language,
in
a
way
that
there
is
nothing
to
prove
about
them.
Nothing
to
prove
that
they
are
correct
because
they
are
generated
correct
by
construction.
F
So
that
was
the
firm
belief
that
I
think
my
advisor
inoculated,
like
in
my
head,
probably
when
19
late
90s,
when
when
he
convinced
me
that
that's
the
only
way
to
go.
If
we
want
to
do
things
the
right
way
and
I
fell
for
it,
and
I
had
absolutely
no
motivation
afterwards
to
do
things
any
other
way,
and
by
that
I
mean
ad-hoc
tools:
it's
a
pick-an-a-hop
language,
let's
say
java
4
and
then
pick
a
tool.
Let's
say
a
model
checker
and
now
let's
do
a
model
checker
for
java
4.
right.
F
You
spend
years
to
work
on
that
and
then
nothing
of
that
is
reusable
to
the
next
version
of
java
or
seed
or
solidity
or
javascript,
and
that
made
no
sense
because
it
was
like
at
best
like
a
huge
waste
of
talent
and
not
not
economical.
So
we
decided
to
step
back
and
and
do
things
properly,
which
was
by
the
way
my
advisor
was
going,
which
is
also
how
you
call
the
next
the
next
right,
releasing
I'm
very
I'm
very
honored
for
that.
F
So
vogel
convinced
me
that
that
if
we
do
things
mathematically
rigorously
long
term,
we
and
and
then
we
design
the
k
framework.
In
that
spirit,
where
you
define
a
programming
language
once
and
for
all,
and
then
all
the
tools
are
derived
from
that
one
definition,
and
once
you
think
about
it,
and
once
you
assimilate
this
this
concept,
then
it's
hard
it's
hard
to
motivate
yourself
to
do
things
any
other
way
and
the
talking
and
and
we've
done
k
for
many
years.
I
think
we
started
in
2000
late
2000
2005.
F
We
had
the
first
prototype
and
we
had
it
in
the
academic
environment
at
university
and
then
in
2015.
It
was
ready
to
be
transitioned
into
into
the
company
to
run
the
verification.
In
2015
we
started
using
k
in
runtime
verification,
and
we
had
the
first
rule
based
on
it.
Then
another,
and
then
we
started
working
with
iohk
and
things
grew
from
there.
B
G
Sure
so
I'll
give
you
a
little
bit
of
history.
Initially
kbm
started
out
as
a
class
project
at
the
university
of
illinois
and
then
actually
iohk
stepped
in,
and
they
kind
of
saw
the
future
in
smart
contract
quality
assurance.
You
know
at
the
time
we
weren't
thinking
of
doing
anything
with
it.
It
was
just
a.
It
was
just
a
class
project
where
we
were
saying.
Okay,
this
this
was
cool.
G
We
we
started
being
able
to
be
self-sustaining,
basically
in
terms
of
doing
smart
contract,
security
audits
and
and
other
protocol,
modeling
and
stuff
like
this
so
turns
out.
There
was
a
huge
market
for
for
this
high
quality
assurance
work
that
we
could
do
for
people
so
kvm
at
this
point.
You
know
it's
it's.
It's
basically
done
when
there's
an
update
to
when
there's
a
hard
fork
for
ethereum.
We
have
to
do
a
little
maintenance
work
on
it
and
occasionally
we,
you
know,
find
little
issues.
G
We
find
inefficiencies
in
it
and
we
we
we
fix
those.
So
the
the
future
for
kvm
is
just
building
out
tooling
around
it.
At
this
point
and
the
tooling
that
we've
done
so
far,
you
know
we
started
off
just
doing
formal
verification,
so
we
just
had
formal
verification,
tooling
around
it
and
there's
been
a
few
other
companies
that
have
also
built
their
own
tooling
around
it.
So
what
comes
to
mind
is
like
daphub
has
developed
the
k-lab
and
the
act
specification
language
to
make
it
easier
to
do
formal
verification
using
kvm.
G
But
more
recently,
we've
been
developing
this
tool
called
firefly,
which
is
us
trying
to
wrap
up
everything.
That's
automatable
about
our
quality
assurance
pipeline
into
one
tool
that
developers
can
plug
into
their
existing
quality
assurance
stack.
So
rather
than
you
know,
the
the
the
power
of
of
k
and
kbm
comes
from.
You
know
you
have
to
to
get
to
it
to
access
it.
You
have
to
be
a
formal
methods
expert.
G
You
have
to
really
know
what
you're
doing,
but
there
are
some
smaller
things
that
can
be
done
in
an
automated
fashion
by
the
by
the
computers,
so
we're
trying
to
wrap
all
those
smaller
things
up
into
a
tool
that
people
can
just
use
themselves
to
increase
their
their
smart
contract
quality
assurance.
That's
for
kvm
for
yele.
We,
it
also
started
a
while
ago.
G
I
guess
quirky
design
decisions
in
the
evm
itself
and
we
thought
we
could
do
better,
and
so
we
helped
cardano
to
design
this
new
vm
called
yele,
which
is
much
more
much
more
influenced
by
kind
of
modern,
more
modern
register
based
vms
than
evm
is
so.
If
you
look,
if
you
read
yela
code
and
you've
read
lvm
code
before
you'll,
see
okay,
there's
kind
of
some
similarities
between
the
two
and
we
we
benefit
a
lot
from
university
of
illinois,
expertise
in
llvm
and
el
and
writing
compiler
passes
and
and
all
their
expertise
there.
G
So
so
yeah
yellow
started
out
as
a
designed
language
actually,
and
we
designed
it
to
be
easier
to
do
reasoning
with
than
evm.
Knowing
all
the
problems
that
we
had
doing.
Evm,
formal
verification
and
you
know
yela
now
needs
to
be
updated
and
so
we're
working
on
updating
it
to
get
to
the
point.
Where
kind
of
in
this
steady
state
that
we're
in
with
kvm
and
then
once
we're
there
it'll
be
the
same,
the
same
kind
of
story
to
develop
tooling
around
it.
A
So
you
mentioned
that
that
we
first
started
working
together
back
in
2018
and
obviously
since
then
the
platform's
come
a
long
way
and
I
think
particularly,
the
communities
come
a
long
way
as
well.
So
what
what
particularly
excites
you
and
interests
you
about
working
with
cardano
now
over
the
next
next
few
months
ahead,
particularly.
F
So
I
can
tell
you
what
I
really
like
about
cardano
in
general,
I
really
like
the
team.
It's
an
amazingly
strong
team.
When
you
look
at
the
team
on
the
iohk
webpage,
it
almost
feels
like,
like
a
top-notch
research
lab
with
top
researchers,
top
papers,
lots
of
papers
published,
so
everything
is
derived
from
fundamental
research
and
from
fundamental
understanding
of
very
difficult
problems.
F
F
So
it's
all
fueled
by
research-
and
I
really
like
that,
and
particularly
I
like
the
fact
that
the
ceo
of
the
company,
charles
huskinson,
is
a
big
believer
in
the
power
of
research
and
fundamental
understanding
of
things
as
opposed
to
ad-hoc
doing
things
quickly.
So
that's
what
attracts
me.
I
don't
know
everything
you
might
have
a
different
take
on
it,
but
when
I
think
of
cardamom,
that's
what
comes
to
mind
and
that's.
Why
I
like
to
work
with
cardano
and
I'm
very
optimistic
about
any
future
that
we
can
take
together.
G
Yeah,
my
impression
of
cardiano
has
been
similar.
Actually
I'm
impressed
with
how
how
much
emphasis
is
put
on
research,
which
I
think
is
important
for
this
space,
because
this
is
new.
You
know.
A
lot
of
this
is
is
is
totally
new.
It
hasn't
the
world
hasn't
seen
a
lot
of
the
you
know
this,
this
concept
of
defy,
where
you
don't
have
centralized
people
managing
the
money,
that's
totally
new,
so
I
think
there
has
to
be
some
research
in
terms
of
okay.
G
How
are
we
gonna
do
this
in
a
way
that
it
works,
and
I
think
cardiano
is
putting
that
time
in
you
know
and
they
and
they
understand
the
importance
of
doing
that.
You
know
so.
They're
actually
they're
actually
going
they're
approaching
different
research,
their
research
groups,
like
our
group
and
you
know,
we've
we've
been
in
touch
with
some
of
the
other
groups.
They
talked
to
and
telling
them
hey.
G
You
know
we'd
like
to
get
a
tool
out
of
you
and
we'd
also
like
to
get
some
research
out
of
you
and
get
some
more
understanding
of
what
the
what
it
is
we're
trying
to
do
here.
So
I
think
that
that's
an
important
aspect
of
how
cardano
is
approaching
these
problems,
rather
than
the
kind
of
shotgun
we're
going
to
try
everything
and
see
what
sticks
against
the
wall.
And
then
you
know
maybe
lose
some
money
on
a
few
of
the
contracts
because
it
didn't
work
or
something
like
that.
A
B
So
tim,
what
I
really
like
about
the
approach-
runtime
verification
does
is
they're
looking
at
this
as
a
universality
type
of
concept
to
where
you
know,
developers
that
develop
in
multiple
different
languages
and
how
to
verify
that
code
in
a
way,
that's
somewhat
almost
standard
and
their
case
semantics.
Their
solutions
that
come
up
against
k-semantics
really
really
does
is
very
exciting
to
me,
because
it
it.
It
simplifies
a
lot
of
the
more
complex
languages
in
our
space.
B
So
I
was
very
excited
to
talk
to
them
and
and
partner
with
them
and
see
where
we're
going
there.
Another
such
approach
that
we're
doing
so
outside
of
universality
is
interoperability,
and
we
talk
a
lot
about
that
for
cardano
and
a
platform
is
in
general
and
glow,
which
is
the
language
from
mutual
knowledge
systems
caught
up
with
their
co-founder
fari
great
guy,
and
we
have
a
clip
to
run
just
to
kind
of
show.
You
guys
the
language
itself
and
a
great
way
to
look
at
it.
B
B
So
last
time
we
introduced
fare
to
our
community
and
there
was
quite
a
little
a
little
bit
actually
more.
There
was
a
lot
of
buzz
around
the
globe
language,
so
I
did
want
to
bring
you
back
onto
the
show
to
kind
of
do
like
a
part
two,
if
you
may,
because
we
talked
about
the
value
proposition
of
glo
and
the
language.
But
one
of
the
things
that
really
stuck
out
to
me
was
the
trust
concept
you
know
and
how
the
language
solves
that
trust
concept
and
and
the
attack
scenarios.
B
And
what
do
you
do
to
mitigate
some
of
those
things
so
on
this
segment?
We're
actually
going
to
talk
a
little
bit
about
those
scenarios
and
also
do
a
demo
of
the
language,
so
the
audience
sees
in
real
time
what
what
what
this
looks
like
safari,
I'm
going
to
turn
this
over
to
you
and
help
us
understand
a
little
bit
more
about
the
scenarios
with
the
trust.
H
I
had
gave
it
protection
htc,
but
the
part
of
this
presentation
that
I
want
to
show
you
is
the
attack
models
so
water.
Every
time
people
talk
about
security,
something
that
a
lot
of
them
miss
is
what
am
I
actually
protecting
you
against
or
not
protecting
you
failing
to
protect
against.
So
the
the
attack
model
that
the
glow
aims
at
solving.
H
We
don't
solve
everything
today,
but
that
we
have
a
design
that
is
on
the
right
track
to
solve
them
is
first
and
foremost,
abstraction
failures,
glow
the
whole
approach
of
glow
is
that
we
have
a
language
that
simplifies
things
by
making
them
more
abstract,
taking
at
the
level
of
attraction
it's
closer
to
what
the
user
cares
about,
so
that
all
the
mistakes
that
you
do
as
part
of
the
implementation,
the
user
cannot
kind
of
do
that.
Only
the
implementer
can
make
bad
things
such
as.
H
If
you
have
a
bug
in
solidity
or
you
have
a
bug
in
in
ethereum
or
bitcoin
or
anything,
you
can
use
all
your
money
because
there's
a
bug
in
bitcoin,
but
at
least,
if
you
trust
bitcoin-
and
you
trust
solidity,
you
cannot
in
solidity,
you
can
still
write
a
bad.
You
can
still
write
re-entrance
issue
problem
in
solidity.
H
You
can
still
do
bad
delegation.
You
can
still
destroy
your
library
under
your
the
food,
you
can
miss
some
kind
of
permission,
checks
and
there
have
been
like
tens
or
hundreds
of
millions
of
dollars
lost
this
way
just
because
of
bad
abstraction,
and
this
is
something
that
totally
did
appear
with
glow,
because
glow
is
at
a
level
of
attraction.
Above
all
these
issues.
So,
yes,
there
can
be
a
bug
in
the
glow
compiler.
So
there
is
a
bug
in
solidity.
H
Iron
is
anything,
but
there
cannot
be
a
bug
in
your
programs
written
in
glow
that
cause
any
of
these
issues.
That's
just
impossible,
not
accessible,
so
we
also
also
pronounced
mr
misplaced
trust.
Even
more
money
has
been
lost
because
of
respect
trust.
People
used
an
exchange
that
was
hacked
or
they
trust
a
bad
oracle,
or
anything
like
that.
Basically,
your
application
isn't
as
centralized
as
it
purpose
to
be,
and
I
cannot
solve
that
with
globe,
but
what
I
can
do
is
I
can
make
the
hypothesis
explicit.
I
can
make
it.
H
Oh
if
you
run
this
app
you're,
trusting
this
validation
network
or
you're
searching
this
particular
issuer.
So
do
you
trust
them
you
should
do.
I
cannot
make
you
trust
them
or
not
trust
them,
but
it
must
be
explicit
as
part
of
your
application
who
you
are
trusting
or
not,
and
when
this
becomes
explicit,
maybe
people
will
pay
more
attention
to
non-custodial
dexes
exchanges
and
decentralized
oracle.
Things
like
that
because,
oh
is
I
understand
actually
maybe
I
should
not
use
this
app.
H
It's
actually
a
central
centralized
app
that
happened
to
run
on
a
decentralized
network
which
totally
centralized
like
it's
so
also
lots
of
low-level
attacks,
and
that's
the
part
where
everyone
today
has
to
solve
these
issues
on
their
own.
You
have
to
make
sure
your
your
computer
is
secure.
You
won't
get
hacked
that
your
network
is
not
going
to
ddos.
So
you,
you
can
still
post
your
transaction,
that
you
must
play
the
game
so
that
there's
no
economic
denial
of
service
question
one
by
the
entire
blockchain.
H
So
you
cannot
post
your
transaction,
you
can.
There
are
lots
of
systems
from
egg
bugs
that
can
cause
all
your
data
to
you.
Use
a
system
called
the
wrong
way
and
you
lose
your
data
or
you,
your
computer.
Your
data
center
goes
down
and
you
lose
your
data
because
you
don't
have
a
backup
et
cetera.
So
all
these
are
engineering
problems
that
are
well
known,
but
right
now
everyone
has
to
solve
them
from
scratch.
The
value
proposition
of
glow
here
is
that
we
can
hire
a
specialized
engineering
team
and
everyone
will
share
it.
H
Glo
is
an
open
source
project,
so
that
means
that
everyone
who
uses
open
source
project
goes
gets
all
the
value
in
the
beginning
without
having
to
have
their
own
team
and,
of
course,
we're
also
a
company.
So
we
will
sell
the
services
so
that
you
can
integrate
well
in
your
system
because
even
open
source
project
you
have
to
deploy
it,
and
that
requires
still
some
engineering
specialty.
H
But
at
least
all
these
attacks
are
attacks
that
we
can
prevent
with
glow.
We
can
makes
it
that
if
you
write
an
app,
you
can
focus
on
the
business
logic
and
the
economic
aspect,
I'm
writing
a
derivatives
contract
and
writing
a
supply
chain
tracking
or
shopping
app.
Whatever
you
want
to
focus
on
your
business
logic
and
everything
all
the
lower
level
systems
aspect
is
something
that
can
be
shared
by
all
the
users
of
globe,
because
only
the
glo
team
need
to
do
that.
H
And
if
you
need
to
modify
glow,
we
can
do
it
for
you
or
you
can
do
it
yourself.
It's
open
source,
but
at
least
your
education
will
serve
everyone
and
the
person
who
writes
that
as
search
can
just
focus
on
their
business
logic
and
that's
the
main
thing
about,
though
I
hope
to
solve,
and
I
want
to
illustrate
that
with
what
the
simplest
programming
law
can
be,
it's
buying
a
signature.
H
Some
buyer
alice
wants
to
buy
a
signature
from
bob,
which
is
basically
an
access
to
some
door
or
or
rental
or
some
property
or
anything
it
can.
It
can
be
signature
for
a
swap
on
another
blockchain,
and
the
contract
looks
like
this.
There
are
six
lines
of
actual
code,
these
three
lines.
I'm
saying
that
I
have
an
interaction
between
the
seller
and
the
buyer,
and
this
interaction
takes
a
digest
and
a
price
as
parameters.
H
If
you
were
writing
them
in
by
hand
in
in
solidity
and
javascript
or
even
in
to
a
point
in
bluetooth
and
and
and
the
contract
is
haskell,
which
is
on
haskell
futures
cascade
is
much
better
than
solidity
and
javascript,
but
it's
still
lower
levels
and
writing
you're,
seeing
in
in
glow,
so
blue
would
be
at
the
same
level
of
attraction
or
slightly
different,
but
same
general
level.
Expression
as,
for
instance,
marlow,
so
it's
you're
very
removed
from
all
the
details
of
the
network.
H
Let's
look
at
the
compilation.
Output
here
is
from
those
six
lines
of
code.
We
generate
like
53
lines
of
soda
code
and
this
plural
code
will
run.
There
is
a
part
that
runs
here
just
signature.
Here's
the
part
that
runs
all
the
consensus
that
everyone
will
run
here,
there's
a
part
that
runs
only
on
the
buyer's
computer
here.
H
So
this
is
the
part
that
runs
the
buyer's
computer,
and
this
is
the
part
that
runs
only
on
the
sellers.
Computer
and
these
parts
are
slightly
different,
but
we
generate
at
the
same
time
the
contract,
the
client
for
the
plain
code
for
the
buyer,
the
client
code
for
the
seller,
it's
all
generated
from
those
six
lines
of
code
and-
and
so
this
part
will
remain
in
sync,
there's
no
case
where
oh,
I
modify
the
contract
slightly
bit
and
I
forget
to
modify
one
of
these
and
then
you
lose
all
your
money
or
something
bad
happens.
H
No,
this
this
code,
the
code
for
the
buyer,
the
code
for
the
seller
and
the
code
for
the
contract
are
always
in
sync
by
construction
and
they
always
handle
timeouts
by
construction.
So
all
the
usual
failures
disappear
and
if
we
want
to
run
it,
let's
run
this
code,
so
we
have
an
integration
test
that
runs
it
and
we
are
hitting
a
private
blockchain
and
for
this
prior
routine.
So
the
first
step
is
the
buyer
created
contract
at
the
first
transaction,
and
the
second
step
is
the
second
step.
H
H
All
this
is
taken
care
for
you
at
the
mistly
coast
of
these
six
lines
of
code
that
you
don't
even
have
to
write.
Most
people
should
not
write
glow
code.
They
should
use
the
code
generator
by
glo.
We
will
generate
code
for
javascript
and
bluetooth
and
whatever
is
for
your
blockchain,
and
you
will
not.
H
Some
people
will
write
glow
code
and
those
people
who
deal
with
the
key
economic
issues
will
need
to
write
it
and
they
will
be
spared
all
the
network
and
low
revolution
problems,
and
but
most
users
will
use
these
interactions,
such
as
by
using
later
or
playing
whatever
shoot
your
contract.
You
have
and
that's
how
it
goes,
and
some
of
this,
of
course,
this
interaction
will
be
prioritized
by
whatever
parameters,
make
sense
for
your
applications
at
a
higher
level.
B
Got
it
so
this
is
well
thought
out
far.
I
am
I'm
glad
the
demo.
You
know
I've
seen
the
demo
prior
as
well,
and-
and
this
actually
gives
the
audience
an
understanding
of
what
it
means,
the
abstraction
layer
means
and
how
you
almost
automate
the
attack,
the
trust
versions
of
running
contracts
so
great.
So
this
is
how
we're
we're
thinking
of
interoperating.
So
why
is
this
important?
B
This
is
important
because
from
a
partner
perspective,
we
see
that
glo
has
something
they
bring
something
to
the
cardano
community
from
what
you've
just
seen
so
figuring
out
how
to
get
them
to
interoperate
with
our
gogan
program
and
what's
going
to
go
on,
cardano,
provides
options
for
interoperability,
and
that's
exactly
where
we're
taking
this.
So
I
appreciate
it.
Francois
appreciate
that
you're
you
came
out
here
and
have
shown
us
the
language
and
I'm
sure
you'll
be
on
more
shows
as
we
move
further
in
their
relationship
around
interoperability.
H
I
just
wanted
to
say
that
right
now
we're
targeting
the
evm
virtual
machine
and
we
can
can
run
on
any
evm
network,
but
we
also
have
a
prototype
working
in
tutors
and
whenever
pluto's
comes
out,
we
will
run
on
pictures
too
and
on
any
blockchain
that
will
want
us
to
run
on
it
or
that
anyone
want
us
to
support.
We
will
run
so
portability,
I
think,
is
also
a
big
plus
because
we
can
abstract
also
the
blockchain
away
from
the
dev
developers.
A
B
That's
also
we'll
see
we'll
see
some
exciting
announcements
on
that
this
month,
marlow
playground
going
really
well
also
about
the
feedback
that
we
have
received
and
we're
moving
towards
a
marlow
for
end
users,
product
really
nicely.
I've
talked
to
the
team
on
that.
We're
we're
moving
very
smoothly
on
it,
so
we're
looking
at
q1
of
next
year
for
that
as
well.
A
Okay,
so
some
some
more
important
activity
around
the
gogan
rollout
from
both
a
tactical
point
of
view
and
from
a
strategic
point
of
view,
and
in
fact
I
understand
that
charles
will
be
sharing
a
little
bit
more
information
on
all
this
activity
very
very
soon,
so
keep
an
eye
out
on
his
youtube
channel
for
more
from
charles
okay.
So
that's
one
type
of
collaboration
that
we've
talked
about.
Maybe
it's
now
time
to
turn
to
another
type.
A
So
gogan
is
all
about
bringing
new
utility
to
the
cardano
blockchain,
and
that
includes
everything
from
partnerships
collaborations
to
new
enterprise
use
cases
and
joining
me
now
is
jeremy
firster
from
the
cardano
foundation
to
share
a
little
bit
of
news
about
a
collaboration
that
we've
we've
recently
announced.
So
jeremy
welcome.
Thank
you
for
joining
us
and
just
before
we
start.
Perhaps
you
can
just
tell
us
a
little
bit
about
yourself
and
your
background
and
how
you
came
to
the
cardinal
foundation.
I
Thanks,
sam
and
hello,
everyone,
my
name
is
jeremy
firster
and
I
have
been
living
in
taiwan
for
the
past
10
years
originally
from
the
us.
My
professional
background
is
primarily
in
corporate
banking,
where
I
covered
large
corporates
and
emerging
markets,
and
since
mid-2016
I
transitioned
more
into
blockchain
space
as
taipei
is
a
tech
capital
of
the
world.
A
I
Our
partnership
strategy
at
the
cardona
foundation
is
really
to
showcase
the
economic
utility
to
specific
cardinal
features,
and
we
do
this
through
having
use
cases
which
we
believe
have
mass
market
appeal
and
doing
so.
This
demonstrates
the
values
that
an
advanced
public
blockchain
infrastructure
enables
so
transactional
metadata
is
the
first
available
feature
where
we've
integrated
this
into
a
fully
functional
enterprise
grade
product.
I
Now
we
put
specific
attention
on
the
use
case
because
we
want
to
show
the
greater
value
that
is
provided
to
end
users,
and
a
key
mission
of
the
foundation
is
to
scale
adoption
of
cardano,
so
showing
these
valuable
use.
Cases
through
integrations
of
third
parties
is
one
way
that
we
provide
leadership
to
the
greater
cardinal
community.
A
I
J
I
J
J
So
there
are
active
scans,
qr
codes
in
pretty
much
every
continent
around
the
world
and
we
have
been
focused
on
mainly
two
customer
groups,
so
we
have
around
30
customers
today,
they're
a
combination
of
fortune,
2000
companies
and
small
medium
enterprises
in
in
two
verticals.
The
first
one
is
fast-moving
consumer
goods,
in
particular
beauty
care,
food
and
beverage
and
luxury,
and
the
second
one
is
what
we
call
industrial
goods
which
encompasses
everything
from
automotive,
chemicals,
agrochemicals,
precious
metals,
electronics
and
and
more
and
the
value
that
we
provide
to
customers.
J
J
Second,
we
enable
companies
to
track
their
products
in
the
supply
chain
from
the
moment
they're
produced
until
they
reach
the
end
consumer,
so
we
increase
transparency
in
the
supply
chain
and,
last
but
not
least,
very
importantly,
since
we
are
a
qr
code
based
solution,
we
also
enable
consumer
engagement,
so
we
enable
you
to
build
communication
channel
directly
with
your
end
consumer
via
the
product
and
the
way
we
do.
This
is
in
with
with
two
things.
J
So
this
gives
the
product
a
digital
identity
that
is
managed
in
in
our
system
across
its
entire
life
cycle
and
the
second
element
of
the
value
and
the
system
that
we
have
is
our
patented
method
to
make
qr
codes
not
only
unique
but
also
copy
proof,
and
this
is
a
method
that
we
invented,
which
is
a
special
graphic.
We
call
it
a
secure
graphic
that
is
placed
into
the
center
of
a
qr
code
and
then
enables
a
consumer
with
his
smartphone
with
a
mobile
app
to
verify
that
the
product
is
is
indeed
authentic.
J
Sure
so
we
ourselves
are
not
a
blockchain
based
solution,
but
blockchain
is
a
technology
that
can
be
combined
together
with
our
system.
So
we
look
at
ourselves
as
a
provider
of
unique
tamper-proof
identifiers.
So,
since
our
qr
codes
cannot
be
copied,
they
are
a
good
tool
to
use
as
an
on-boarding
mechanism
to
go
from
the
physical
world
to
the
digital
world.
J
So,
first
of
all,
what's
what's
special
about
cardano
itself
is
that
there
were
two
factors
that
interested
us.
The
first
one
is
there's
a
very
large
and
active
ecosystem
and
community
around
it,
and
we
really
liked
that
because
it
shows
us
that
there
is
a
broad
community
supporting
the
protocol
and
that
the
protocol
has
a
real
chance
of
getting
large-scale
adoption.
J
And
so
that
was
one
important
factor,
and
the
second
one
is
that
there
was
a
metadata
feature
that
was
released
recently.
That
essentially
allows
to
include
metadata
into
transactions
directly,
and
this
is
what
we
we
will
be
using
for
our
integration
to
add
asset,
specific
information
into
transactions
on
on
cardano.
J
So
we
use
that
and
what
is
unique
about
our
integration
is
that
we
have
put
a
lot
of
focus
on
independent
verification
of
the
data.
So
since
the
data
will
be
sitting
on
a
public
blockchain,
a
user
will
theoretically
have
all
the
information
available
to
himself
verify
that
the
information
that
is
on
the
blockchain
was
indeed,
if
we
take
wine
as
an
example.
It
was
indeed
uploaded
by
a
wine
company
at
a
specific
point
in
time
and
was
verified
by
another
authority
at
a
specific
point
in
time,
and
he
can
verify
that
this.
I
K
So
we
we
use
shaz
256,
hashes
and
digital
signatures
and
the
hashes
you
know,
allow
anybody
publicly
to
go
and
verify
that
the
data
has
not
been
modified
in
any
way
and
because
the
blockchain
is
immutable.
That's
always
going
to
be
the
case,
and
then
we
also
use
the
public
signatures
to
provide
attribution.
So
they
know
who
has
signed
the
data
so
scantrust
and
their
client
can
both
digitally
sign
and
prove
that
they
they
verify
that
that
that
data
is
accurate.
I
A
I
Once
more
features
of
cardonal
become
available,
you
know
there
will
be
a
lot
more
announcements
made
in
this
front,
and
you
know
one
of
the
keys
here
that
we
look
at
is
driving
the
market
infrastructure
surrounding
cardano,
because
the
best
way
that
cardano
will
get
in
the
hands
of
everyone
is
in
integrations
and
different
aspects
of
the
market.
Jeremy.
B
All
right
so
tim
that
was
that
was
a
pretty
good
conversation
with
jeremy
and
it's
good
to
see
that
we're
firing
on
all
cylinders
when
it
comes
to
utility
and
finding
those
partnerships
from
the
cf
from
our
team
and
also
from
our
commercial
teams
as
well
so
now
kind
of
pivoting
to
an
event.
That's
happening
in
december.
The
hard
fork
combinator
event-
and
this
is
for
token,
locking
and
we're
bringing
back
our
favorite
guy
kevin
and
tim.
You
caught
up
with
him
to
give
us
the
deets
on
that.
A
L
Well,
in
some
sense,
not
very
much
tim,
because,
just
like
the
buyer
and
sharing
transition,
it's
going
to
go
very
very
smoothly.
We,
we
promise,
we've
been
working
very,
very
hard
behind
the
scenes,
developing
and
deploying
the
fantastic
hardport
combinator
event
to
make
sure
that
the
process
is
as
easy
and
smooth
as
possible
for
the
state
pool
operators
for
the
cardano
network
and
for
the
regular
ada
holders,
of
course,
but
seriously.
L
What
we're
going
to
be
doing
is
we're
going
to
be
rolling
forward
on
the
protocol
version
at
the
moment.
We're
running
practical
version
2.0,
which
is
we've
code
named
shelley.
What
we'll
be
doing
in
the
upcoming
hard
fork
event
is
to
roll
forward
to
the
next
hard
fork
version.
This
is
version
3.0,
codenamed
allegra,
and
that
is
going
to
juicy
a
new
feature
called
token,
locking,
that's
going
to
be
the
major
thing
we'll
be
doing
from
our
perspective.
L
L
We've
had
to
generalize
internally
some
of
the
mechanisms
that
we
have
put
in
place
just
for
bar
and
shelling
and
now
we're
in
a
situation
where
we're
confident
are
that
we
can
just
do
this
on
a
regular
basis.
So
whenever
there
are
new
things
that
need
to
be
introduced,
new
features,
we
can
just
say:
okay,
there's
a
hard
thought
coming
up,
we're
ready
for
it
press
the
button
off.
We
go.
A
L
That's
that's
basically
it,
and
so
what
what
the
hard
fork
combination
does
is
essentially
to
allow
a
smooth
transition
from
one
protocol
version
to
the
next
protocol
version
and
as
you're
saying
in
most
blockchains.
This
is
a
traumatic
event,
because
everything
has
stop.
Are
you
have
to
recreate
the
chain
from
the
beginning,
using
the
new
protocol,
and
only
once
you've
done
that
and
everyone's
synchronized?
L
Can
you
start
running
again?
In
contrast,
what
the
hard
fork
combinator
does
is
to
keep
the
network
running
during
this
transition
and
to
extend
the
original
chain
history
with
the
new
blocks
that
are
minted
after
the
protocol
has
changed
and,
of
course,
the
real
complication
is
that
during
this
transitional
period,
you
could
have
some
stake
pools
trying
to
produce
blocks
according
to
the
old
protocol.
A
So,
let's
maybe
just
dig
a
little
bit
into
into
token
locking
itself
now
we're
talking
elsewhere
in
the
show
about
metadata,
which
was
really
the
first
piece
of
non-transactional
utility
which
we've
deployed
on
cardano.
This
is
the
next
bit.
Isn't
it
token
locking
what
does
token
locking
do
and
how
will
it
bring
kind
of
new
use
cases
so.
L
L
What
you
might
do
is
enter
into
a
contract
with
some
other
party
where
they
agree
to
buy
your
house.
You
agree
to
sell
them.
The
house,
you
haven't,
sold
them
the
house
today,
that's
going
to
happen
at
some
point
in
the
future
and
of
course,
if
you
sell
then
sell
the
house
to
a
third
party,
the
contract
is
going
to
be
void
and
there
may,
of
course,
then
be
some
penalties
associated
with
breaking
the
contract.
So
what
token
locking
does
is
to
essentially
create
that
representation?
L
A
A
L
That's
right:
it's
it's
a
it's
a
key
piece
of
core
technology
for
all
kinds
of
smart
contracts,
and
it's
it's
a
relatively
small
piece
of
technology.
It's
obviously
not
everything
we
want
to
do
with
smart
contracts,
there's
going
to
be
more
exciting
things
coming
up
in
the
very
near
future,
with
multi-asset
tokens
with
full
pluto's
scripting
we're
rolling
this
out
now,
because
we
have
a
need
for
it
to
enable
part
of
the
cardano
governance
mechanism.
L
Right
so
this
will
enable
the
project
catalyst
voting.
So
the
way
that's
going
to
work
is
as
I've
just
described.
Ada
holders
will
be
able
to
lock
their
tokens
during
a
voting
period.
Now,
crucially,
that
doesn't
mean
they
can't
spend
them
dispose
of
them
all.
It
means
is
that
secures
their
voting
rights
as
long
as
they
continue
to
hold
those
votes
so
they're
making
a
promise
that
they'll
hold
the
votes.
If
they
don't
so
they'll
hold
the
tokens
the
ada.
L
L
L
So
if
only
we'd
had
this
in
place
about
a
month
ago,
tim
then
all
the
american
public
would
have
had
to
do
would
be
to
buy
ada,
and
then
they
could
have
voted
directly
on
their
presidential
choice
without
any
of
the
fall
that
we've
seen
without
any
of
the
legal
process,
because
ada
would
have
guaranteed
it.
Maybe.
A
We've
got
another
chance
in
in
four
years,
kevin.
Let's,
let's
look
at
that.
Maybe
so
look
I
understand
at
the
moment
that
this
this
protocol
update
is
in
internal
testing.
It's
in
internal
qa
testing
at
the
moment,
perhaps
just
walk
us
briefly
through
the
next
steps
and
and
when
we
can
expect
the
hard
fought
combinator
event
to
to
happen.
L
L
There
aren't
going
to
be
many
changes
in
fact
to
the
to
the
command
so
that
are
available
to
the
operators,
so
we
think
the
press
is
going
to
go
pretty
smoothly
and
essentially
it's
providing
a
bit
of
a
check,
a
bit
of
verification,
letting
people
familiarize
themselves
with
the
code,
so
we
should
be
ready
to
go
very
soon
after
we
deploy
the
test
net
on
on
the
main
natural
gem.
If
we're
not
going
to
have
the
same
extended
period
that
we
had
with
shelley.
L
The
reason
we
had
such
a
long
period
with
shelley
was
to
give
people
a
chance
to
engage
early
on
with
all
the
new
commands
to
become
familiar
with
the
process
of
staking
delegation
setting
up
and
running
a
state
pool,
etc.
All
that
is
just
going
to
carry
forward
here,
we're
just
adding
in
the
token
locking
operation
itself,
so
really
you'd
only
spend
so
much
time
on
that,
as
as
we
did
before,
and.
A
Okay,
so
another
packed
show
aparna.
We
we
talked
about
gogan,
we
talked
about
those
devnets
coming
up
and
actually,
let's
just
remind
everybody
if
you've
got
experience
working
in
the
salinity
space
or
indeed
any
other
language,
and
you
feel
you
want
to
get
involved
in
those
devnet's
projects.
We're
sharing
a
link
right
now
for
type
form,
so
please
do
get
in
touch
with
us.
A
Let
us
know
what
you're
interested
in
and
where
your
expertise
lies
and
will
we'll
see
how
we
can
involve
you
in
that
program
going
forwards,
we've
got
the
hard
fought,
combinator
event
coming
up
with
the
token
locking
we've
got
our
pre-production
environments,
lots
happening
all
during
the
course
of
this
month
and
we've
got
another
show
on
the
17th
as
well,
so
do
tune
in.
For
that
we'll
have
some
more
news.
A
Some
more
updates,
a
couple
of
things
just
to
highlight:
we'll
have
a
bit
of
an
update
on
africa:
lots
of
conversations
lots
of
questions
out
there
around
africa,
so
we've
sat
down
with
john
o'connor,
our
head
of
african
operations,
just
to
give
us
a
bit
more
of
a
strategic
overview
of
what
the
last
year
in
africa
has
brought
and
what
we
can
kind
of
expect
in
2021
as
well
so
tune
in
for
that
next
show.
And
secondly,
we
don't
stop
here.
A
We've
done
shelley
we're
doing
gogan
we're
doing
a
bit
of
voltaire
with
the
with
the
voting
and
the
catalyst
voting
coming
up
next
on
the
list
is
basho,
so
we'll
also
have
an
update
on
hydra
and
where
things
are
going
as
we're
starting
to
move
out
of
the
conceptual
phase
into
the
development
phase,
I
think
that's
about
it
for
today.
Isn't
it
aparna.